villan33FMU5 is a concession area carved out since 1996. Pworth did not get concession direct fr state govt but bought it fr previous concession holder with consent fr state govt. There is some posturing by new state govt but I cannot imagine that they can cancel the concession esp after the public have acted in good faith to subscribe to the rights issue. If there was anything wrong or irregular state govt shld hve stopped the acquisition much earlier not when it is completed and when public investment money amounting to hundreds of millions is involved.

09/08/2018 12:20

villan33But sentiment is bad in short term but most of the risk is alrdy priced in. At 7. 5 sen mkt cap is abt rm300m for profit of close to rm40m per annum. Consider it another myeg scenario.

09/08/2018 12:23

Nicholasming91As long they willing to pay the taxes.. should be no problem . A state still need income to sustain the people

09/08/2018 12:46

excelyouIf Sabah really into FMU5, the seller (Transkripsi Pintar Sdn Bhd) have to pay back the fair price to Sabah.

Just like the 64 pieces of land that have been sold to the Federal Territories Foundation and other developers. Buyers of the condos/property will not be punish. if there is unfair sold, Kuala Lumpur City Hall shall get the fair amounts from the Developers or Foundation.

Priceworth was just a genuine buyer, SPA was executed under law and Bursa requirements.

I am doubt FMU5 under the probe because Bursa and Priceworth should announce the probe of MACC since last few weeks.

Brian LokeOn behalf of the Board of PWI, RHB Investment Bank wishes to announce that as at the date of the closing of acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on 6 August 2018 (“Closing Date”), PWI had received valid acceptances and excess applications for 2,568,635,101 Rights Shares, representing an over-subscription of 521,173,839 Rights Shares or approximately 25.45% over the total number of Rights Shares available for subscription under the Rights Issue.

blueeagleKUALA LUMPUR (Aug 9): Timber and sustainable forestry firm Priceworth International Bhd announced today that its rights issue with bonus shares has been oversubscribed by 25.45%.

In an exchange filing today, Priceworth said as at the closing date of acceptance (Aug 6), it received valid acceptances and excess applications for 2.57 billion rights shares.

This represents an oversubscription of 521.17 million rights shares, or about 25.45% over the total number of rights shares available for subscription. The total rights shares available for subscription is 2.05 billion shares. Every successful application will get a bonus share for every two rights shares subscribed.

In October 2016, Priceworth announced its plans to acquire Rumpuan Capaian Sdn Bhd for RM260 million, to be funded via a series of corporate exercises which included a private placement, special issuance of shares, and a renounceable rights issue with bonus shares.

In March 2018, the company revised the proposed two-for-one rights issue to be a single call of five sen per share, for up to 2.05 billion shares, instead of a two-call exercise. Terms for the bonus issue remained unchanged.

Shares in Priceworth slid half a sen or 6.67% to close at seven sen today, valuing it at RM224.34 million.

09/08/2018 23:13

plcinvestDoes an oversubscription of rights by 25% mean there is large number of investors wanting to invest and get rewarded in the long term? I am in for long term. @wan - if you are of the view that PWI is of poor value as you categorised it as Toxxet paper, why you bother to post the same statement over and over again. You are big CON trader.

60,000 cubic metres per annum averaging approximately 5,000 cubic metres of Products per month with the first supply commencing within two (2) months after full disbursement of the Advance Payment in accordance to the MOU.

4.

Term

5 years commencing from the execution of the definitive Supply Agreement.

5.

Advance Payment

Foshan will provide an advance payment in the sum of RMB 4,000,000 to Sinora for the purpose of designing, engineering, procurement, construction, installation, testing and commissioning.

wanfor fundamental ...Pworth shares Issued 4.094 billions shares ..if this company not a blue chip company just penny company ,low earning cannot to growth ...too many shares issued makes this penny shares too liquidity floods block the movement.Company will do this (shares consolidation) All penny stock shares issued over 2 billions shares will anytime one by one do shares consolidation.